European Union officals are planning to announce a binding agreement on member states that EU consumers must reduce their energy consumption by at least 40 percent.

The BBC News reports that, "EU commissioners are meeting today to agree an energy savings target for 2030 amid serious disagreement about how ambitious it should be. Several countries, anxious over the security of their Russian gas supplies, are pushing for a tough, binding goal."

European nations have already enforced stringent regulations on energy consumption and hence the new rules could dramatically harm the EU economy.

"But," according to the BBC, "EU officials are reluctant to agree because they fear it might damage the overall energy and climate package. Campaigners and industry have described the reluctance to embrace ambitious savings goals as "bonkers.'"

EU lawmakers can impose laws on member states without facing retribution from voters.